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Norway's Revised National Budget for 2022 Presented

17 May 2022

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Proposed Changes

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Norway

The Norwegian government has presented the Revised National Budget for 2022. With respect to taxation, specific measures are relatively limited and include: An increase in the wealth tax rate for non-personal taxpayers (savings banks, cooperatives, etc.) from 0.15% to 0.25%; The reorganization of the support for electric vehicles (cars), with the repeal of the VAT exemption from 1 January 2023, which is to be replaced with a subsidy scheme that provides a level of support that corresponds to a VAT exemption up to a purchase price of NOK 500,000; and Full VAT compensation for the construction of sports facilities in...